There are few things in life more complicated than divorce. That being said, if you are currently in a high net divorce or are about to be, the process may become even more complex. Please continue reading and speak with our knowledgeable Red Bank family law attorney to learn more about high net divorce in New Jersey and how we can help you through the process ahead. Here are some of the questions you may have:
How do I know if I qualify for a high net worth divorce in New Jersey?
If you or your spouse possesses over $1 million in assets, you are involved in a high net worth divorce. This means that you obviously have more at stake than many other individuals, which is why you must ensure you do not proceed without the assistance of an experineced New Jersey divorce attorney.
What makes high net worth divorces more complicated?
To start, high net worth divorces involve all standard divorce issues, such as child custody. That being said, these divorces are often more complex as they frequently involve multiple properties, such as vacation homes, complex investments, such as stocks and bonds, retirement accounts, and more. These assets are generally considered marital property in a divorce, and marital property is almost always subject to the equitable distribution process. Furthermore, high net worth spouses often own businesses together, or one spouse owns a business, and in this case, the business will also be up for equitable distribution.
Is there any way for me to save my assets from a high net worth divorce?
If you are a high net worth individual and you wish to preserve your assets in the event of a divorce, the first thing you can do, if you are not already married, is draft a prenuptial agreement. A prenuptial agreement can outline what will happen to each of you and your future spouse’s assets, should you ever get a divorce in the future. That being said, if you are already married, you may still draft a document known as a postnuptial agreement, which serves essentially the same purpose, though it is solely drafted after marriage. Finally, if you and your spouse jointly own a business, you may draft a shareholder agreement that will outline each of your interests in the company, should you ever divorce. For any further questions, please give our seasoned Red Bank firm a call today.
Contact our experienced New Jersey firm
Our firm proudly represents clients in New Jersey who are faced with matters of family law, criminal defense, business law, real estate law, or estate planning. If you require strong and dedicated representation for any of your legal matters, please do not hesitate to contact The Law Offices of George J. Mardinly to schedule a consultation.